The basics of Alimony
Answer:
Alimony is a legal obligation to provide financial support to one's spouse from the other spouse after marital separation or from the ex-spouse upon divorce.
Alimony must be paid under a decree of divorce or legal separation agreement or decree of support.
Alimony cash payments are deductible if you pay them and reportable as taxable if you receive them.
Noncash property settlements is not alimony.
Divorced and legally separated parties must not live in the same household when payments are made.
Child support payments do not qualify as alimony and are not deductible to the giver and not taxable to the receiver.
Alimony must be paid under a decree of divorce or legal separation agreement or decree of support.
Alimony cash payments are deductible if you pay them and reportable as taxable if you receive them.
Noncash property settlements is not alimony.
Divorced and legally separated parties must not live in the same household when payments are made.
Child support payments do not qualify as alimony and are not deductible to the giver and not taxable to the receiver.
